High country’s tiptop baloney! (5)

I believe the answer is:

tibet

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'high country's' is the definition.
(I've seen this in another clue)

'tiptop baloney' is the wordplay.
'tiptop' becomes 't' (top of the word 'tip').
'baloney' becomes 'ibet' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
't'+'ibet'='TIBET'

Can you help me to learn more?

(Other definitions for tibet that I've seen before include "State" , "Nominally autonomous region of China" , "hilly region" , "far-flung highland area" , "High place" .)

I've seen this clue in the Sydney Morning Herald.

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